The best invoicing and payment tracking tools for small businesses in 2026 include Quicken Business & Personal (best overall), QuickBooks Online, FreshBooks, Zoho Invoice, Wave, Invoice Ninja, and Harvest. Each handles the fundamentals — creating professional invoices, accepting online payments, and tracking what’s been paid — but they differ in pricing, feature depth, and how well invoicing connects to the rest of your financial picture. As the team behind Quicken, we know this space well, and we put this guide together to help you find the right fit.
ToolBest forStarting paid priceFree optionQuicken Business & PersonalSmall business owners who want business and personal finances in one app$7.99/moNoQuickBooks OnlineBusinesses that need full-scale accounting with invoicing$20/mo (Lite)Yes (limited)FreshBooksService professionals who bill by the hour$23/mo (Lite)No (30-day free trial)Zoho InvoiceStartups and micro-businesses that want free invoicingFreeYesWaveSolopreneurs who want free accounting and invoicing$0 (Starter)YesInvoice NinjaTech-savvy users who want open-source flexibility$0 (up to 5 clients)YesHarvestTeams that need time tracking with integrated invoicing$9/seat/moYes (1 seat, 2 projects)
Prices are in USD, verified as of April 2026, and subject to change. Promotional discounts may be available on each provider’s website.
What to look for in invoicing and payment tracking software
The right invoicing tool should do more than generate a PDF. Here are the features that matter most:
- Online payment acceptance. The faster your clients can pay, the sooner cash hits your account. Look for support for credit cards, ACH bank transfers, and digital wallets.
- Automated reminders. Late payments are one of the biggest cash flow challenges for small businesses. Automated follow-ups reduce the need for awkward manual outreach.
- Expense and time tracking. If you bill by the hour or pass through expenses, your invoicing tool should track both and populate invoices automatically.
- Financial reporting. P&L statements, cash flow reports, and tax-ready schedules keep you informed and simplify tax preparation.
- Scalability. Make sure the tool can grow with you — unlimited invoices, multiple clients, and support for additional businesses or team members.
- Price. Monthly costs add up. Consider both the subscription price and payment processing fees when calculating the true cost.
Quicken Business & Personal — best overall
We built Quicken Business & Personal to address a gap in the market: small business owners and self-employed professionals need to manage their business finances and their personal finances, and they shouldn’t need two separate apps to do it.
Quicken Business & Personal is a cloud-based app for web and mobile that combines full invoicing and business accounting with the complete personal finance toolkit of Quicken Simplifi — named Personal Finance App of the Year by the FinTech Breakthrough Awards (2026).
Invoicing and payments
- Create invoices in one click. Log your services and expenses as you work, and when it’s time to bill, Quicken auto-populates an invoice with all unbilled hours and charges — ready to review and send.
- Unlimited clients, projects, and invoices with no caps or additional fees.
- Accept online payments through Stripe, including credit cards, debit cards, ACH transfers, Apple Pay, and Google Pay. Or use any payment method you prefer — when payments arrive in your connected bank account, Quicken helps you match them to the right invoice.
- Track every invoice by status: sent, paid, unpaid, overdue, and partial payments.
- Add your business logo and custom messaging to every invoice.
- Attach receipts to billable expenses and include them on invoices.
Cash flow and business reporting
- Cash flow projections up to a year in advance show how income and expenses will line up, so you can plan for shortfalls and take advantage of high-cash periods.
- Built-in business reports include profit and loss, cash flow statements, balance sheets, and auto-generated tax schedules for IRS Schedules C, E, and F.
- Customize reports with filters for clients, projects, accounts, tags, categories, and time frames — with no cap on the number of reports you can build.
Personal finance included
Unlike any other tool on this list, Quicken Business & Personal includes a full set of personal finance features: budgeting with a dynamic spending plan, savings goals, investment tracking with performance metrics (TWR and IRR), projected cash flows for personal accounts, and a retirement planner. For small business owners whose business and personal finances are deeply connected, seeing both sides in one place provides a clearer picture of their complete financial life.
Pricing and value
At $7.99/mo billed annually, Quicken Business & Personal offers its full feature set — including personal finance tools — at a lower monthly cost than the entry-level paid plans for QuickBooks Online ($20/mo), FreshBooks ($23/mo), or Wave Pro ($19/mo). One subscription covers up to 10 separate businesses with unlimited clients, projects, and invoices.
PC Magazine’s Kathy Yakal called Quicken Business & Personal a “good option if you want to manage both your and your company’s financial matters in one place,” noting that “invoices are easy to create” and “reports are simple to build and read.”
What stands out: The only tool on this list that combines business invoicing and accounting with full personal finance management — at a price point well below business-only alternatives.
Get started with Quicken Business & Personal
QuickBooks Online — best for full-scale business accounting
QuickBooks Online is one of the most widely used accounting platforms for small businesses. It offers a full double-entry accounting system with invoicing built in, making it a strong option for businesses that need comprehensive bookkeeping alongside their billing.
Key invoicing features:
- Create customizable invoices with branding and send them directly from the app with a payment link included.
- Accept payments via credit card, ACH, Apple Pay, PayPal, and Venmo.
- Payments AI drafts payment reminders based on your business’s billing patterns.
- Progress invoicing and batch invoicing available on higher-tier plans.
- Recurring invoices can be scheduled to send automatically.
- Payment dispute protection covers up to $25,000 per year on card payments.
Pricing:
QuickBooks Online offers a free plan (limited to two invoices per month), a Lite plan at $20/mo, and full plans starting at $38/mo for Simple Start, $75/mo for Essentials, $115/mo for Plus, and $275/mo for Advanced. Payment processing rates are 2.99% for card and digital wallet payments, 1% for ACH (with a $1 minimum), and 2.5% for in-person transactions.
What stands out: The depth of the accounting system. For businesses that need features like inventory tracking, payroll, class and location tracking, or multi-user access for a growing team, QuickBooks Online offers a wide range of plans. It does not include personal finance management tools.
FreshBooks — best for service-based professionals
FreshBooks is designed for service professionals — freelancers, consultants, and agencies — who bill for their time and need a streamlined path from tracking hours to getting paid.
Key invoicing features:
- Create and customize professional invoices, with tracked time and expenses pulled in automatically.
- Accept payments via credit card, ACH, Apple Pay, Google Pay, and Buy Now, Pay Later options through Affirm and Afterpay.
- Automated recurring invoices, late payment reminders, and scheduled late fees.
- Retainer management for ongoing client relationships.
- Checkout links allow clients to pay without a formal invoice.
- Instant Payouts feature provides access to earnings in minutes for a 1.5% fee.
Pricing:
FreshBooks plans start at $23/mo for Lite (up to 5 billable clients), $43/mo for Plus (up to 50 clients), and $70/mo for Premium (unlimited clients). Payment processing starts at 2.9% + $0.30 per credit/debit card transaction and 1% for ACH bank transfers. A 30-day free trial is available.
What stands out: The integrated time tracking, retainer management, and Buy Now, Pay Later options make FreshBooks particularly well suited for service businesses that bill by the hour. It does not include personal finance tools.
Zoho Invoice — best free dedicated invoicing tool
Zoho Invoice is a free invoicing tool built for small businesses, freelancers, and entrepreneurs. After 13 years as a paid product, Zoho made Invoice completely free as a commitment to the small business community.
Key invoicing features:
- Create and send invoices via email, PDF, or even snail mail — at no cost.
- Integrate with multiple payment gateways including Stripe, PayPal, Square, and Authorize.net.
- Automated payment reminders and customizable invoice templates.
- Built-in time tracking, expense management, and quotes that convert to invoices.
- Customer portal where clients can view invoices, approve quotes, and make payments.
- Reports on sales, receivables, expenses, and more.
Pricing:
Zoho Invoice is completely free. Payment processing fees are determined by whichever gateway you connect — Zoho Invoice itself charges nothing. The free plan supports up to two users, three projects, and 500 invoices per year, and includes “Powered by Zoho Invoice” branding on invoices.
What stands out: A capable invoicing tool at zero cost. For businesses with straightforward invoicing needs and moderate volume, Zoho Invoice covers the essentials. Businesses that outgrow it can explore Zoho Billing for more advanced needs.
Wave — best free option with built-in accounting
Wave combines invoicing with accounting in a platform designed for small businesses and solopreneurs. Its Starter plan is free and includes unlimited invoicing — a strong option for businesses watching every dollar.
Key invoicing features:
- Create unlimited professional invoices and estimates on the free Starter plan.
- Accept credit card and bank payments, plus Apple Pay, with online payments enabled.
- Automated late payment reminders available with online payments enabled or the Pro plan.
- Recurring billing and automatic payments for repeat customers on the Pro plan or with online payments enabled.
- Built-in accounting features including income and expense tracking, cash flow dashboard, and business reports.
- Mobile app for invoicing on the go.
Pricing:
Wave’s Starter plan is free and includes unlimited invoicing with optional online payments at 2.9% + $0.60 per credit card transaction. The Pro plan costs $19/mo and offers reduced processing fees (2.9% + $0 for the first 10 credit card transactions per month), plus automatic bank imports, automated reminders, and receipt scanning as an add-on.
What stands out: Wave provides genuine accounting functionality — not just invoicing — at its free Starter tier. The trade-off is that more advanced automation features like bank auto-import require the $19/mo Pro plan, and recurring billing requires Pro or online payments.
Invoice Ninja — best open-source invoicing platform
Invoice Ninja is an open-source invoicing platform with a free tier that includes unlimited invoicing for up to five clients. For businesses that value flexibility and control — including the option to self-host on their own servers — it’s a distinctive choice.
Key invoicing features:
- Unlimited invoicing on all plans, including the free tier (up to 5 clients).
- Integrates with multiple payment gateways: Stripe, PayPal, GoCardless, Authorize.net, Mollie, and more.
- Auto-billing and recurring invoices on all plans.
- Client portal for viewing invoices, payment history, and documents.
- Built-in time tracking, project management with Kanban boards, and expense tracking.
- Accept deposits and partial payments.
- Multiple currency and language support.
Pricing:
Invoice Ninja is free for up to 5 clients with 4 invoice template designs. The Pro plan costs $14/mo (or $140/year) and unlocks unlimited clients, 11 invoice templates, custom designs, auto-reminders, and P&L reports. The Enterprise plan starts at $18/mo and adds multi-user access, bank syncing, and e-invoicing with PEPPOL network support. Over 200,000 businesses use Invoice Ninja.
What stands out: The open-source model and self-hosting option give tech-savvy businesses more control over their data and workflow. The free tier is also one of the most feature-rich available, with auto-billing and recurring invoices included at no cost.
Harvest — best for teams that track time
Harvest is a time tracking platform with integrated invoicing, built for professional service teams that bill by the hour. If detailed time data is the backbone of your billing, Harvest turns tracked hours into invoices with minimal effort.
Key invoicing features:
- Automatically generate invoices from tracked time entries and logged expenses.
- Accept online payments through Stripe and PayPal integrations.
- Send invoices via email with configurable late payment reminders.
- Recurring invoices for repeat billing.
- Accounting integrations with QuickBooks Online and Xero to sync invoices and payments.
- Team reporting, capacity tracking, and budget monitoring across projects.
Pricing:
Harvest offers a free plan for individuals (1 seat, 2 projects). The Teams plan starts at $9/seat/mo billed annually ($11/seat/mo monthly). The Enterprise plan starts at $14/seat/mo billed annually and adds profitability reporting, timesheet approvals, and SAML-based SSO. A 30-day free trial is available on paid plans — no credit card required. Harvest reports that over 70,000 companies use the platform.
What stands out: The per-seat pricing model and team-oriented features make Harvest well suited for growing professional services teams. However, it’s primarily a time tracking tool — it relies on integrations with QuickBooks or Xero for full accounting.
Side-by-side feature comparison
FeatureQuicken B&PQuickBooks OnlineFreshBooksZoho InvoiceWaveInvoice NinjaHarvestUnlimited invoicesYesPaid plansYesUp to 500/yrYesYesYesOnline paymentsStripeCards, ACH, PayPal, Venmo, Apple PayCards, ACH, Apple Pay, Google Pay, BNPLVia gateways (Stripe, PayPal, Square, etc.)Cards, bank, Apple PayVia gateways (Stripe, PayPal, etc.)Stripe, PayPalTime trackingYesEssentials plan and aboveYesYesNoYesYesExpense trackingYesYesYesYesYesYesYesRecurring invoicesNoYesYesYesPro or online paymentsYesYesBusiness reportsP&L, cash flow, balance sheetYes (depth varies by plan)Plus plan and aboveSales and receivablesP&L and morePro plan and aboveTime and budget reportsTax schedule reportsSchedules C, E, FVia TurboTax (add-on)Tax-time reportsNoNoNoNoPersonal finance toolsYesNoNoNoNoNoNoCash flow projectionsUp to 1 yearVaries by planNoNoNoNoNoMobile appYesYesYesYesYesYesYesStarting paid price$7.99/mo$20/mo$23/moFree$0 (Starter)$0 (5 clients)$9/seat/mo
Prices are in USD, verified as of April 2026, and subject to change.
How to choose the right tool for your business
Your ideal invoicing tool depends on where you are in your business and what your broader financial life looks like:
- Self-employed, freelancer, or small business owner who also manages personal finances? Quicken Business & Personal is designed for exactly this — business invoicing and personal finance in one app, at a lower cost than business-only alternatives.
- Growing business with complex accounting needs? QuickBooks Online offers a deep accounting feature set with multi-user support and a large integration ecosystem.
- Service professional who bills by the hour? FreshBooks and Harvest both turn tracked time into invoices. FreshBooks is the more comprehensive option; Harvest is stronger for team-level time analytics.
- Need basic invoicing for free? Zoho Invoice, Wave’s Starter plan, and Invoice Ninja’s free tier all provide capable invoicing at no cost, each with different strengths — Zoho for its customer portal, Wave for its built-in accounting, and Invoice Ninja for its open-source flexibility.
- Want full control over your invoicing infrastructure? Invoice Ninja is the only option on this list with a self-hosted, open-source model.
Frequently asked questions
What is the best invoicing tool for freelancers and self-employed professionals?
For freelancers and self-employed professionals who manage both business and personal finances, Quicken Business & Personal offers a distinctive combination: unlimited invoicing with one-click creation, Stripe payment integration, and full personal finance management — including budgeting, savings goals, and investment tracking — in one app starting at $7.99/mo billed annually. If invoicing is your only need and budget is tight, Zoho Invoice provides a capable free option.
Are there good free invoicing tools available?
Several tools offer free invoicing for small businesses. Zoho Invoice is completely free with support for multiple payment gateways, automated reminders, and a customer portal, though it limits usage to 500 invoices per year and two users. Wave’s Starter plan includes unlimited invoicing at no cost. Invoice Ninja’s free plan supports up to five clients with unlimited invoicing, auto-billing, and four invoice template designs.
What payment processing fees are typical with invoicing software?
Credit card processing fees for invoicing tools generally range from 2.5% to 3.5% per transaction, depending on the tool and payment method. ACH and bank transfer fees are typically around 1% per transaction. Most invoicing tools do not add their own fees on top of the payment processor’s charges, though some offer reduced processing rates on higher-tier plans.
Can invoicing software help with tax preparation?
Many invoicing tools track income and categorize expenses throughout the year, which simplifies tax prep. Quicken Business & Personal includes built-in reports for IRS Schedules C, E, and F that map business income and expenses directly to the corresponding tax form line items. QuickBooks Online offers tax support through TurboTax integration as an add-on. FreshBooks generates tax-time reports to help organize your records.
Do I need separate tools for business invoicing and personal finances?
Most invoicing tools focus exclusively on business finances. If you also want to track personal spending, budgeting, investments, and retirement planning, you’d typically need a second app. Quicken Business & Personal combines full business invoicing and accounting with complete personal finance management in a single subscription — a combination that most business invoicing tools don’t offer.
About Quicken
Across its desktop and cloud products over four decades, Quicken has served more than 20 million customers. Quicken Simplifi, the personal finance app whose features are included in Quicken Business & Personal, was named Personal Finance App of the Year by the FinTech Breakthrough Awards (2026) and Best Mint Alternative Overall by Engadget (2026). Quicken Business & Personal was built for the growing population of self-employed professionals and small business owners who need a simpler way to manage their business and personal finances in one place.
Learn more about Quicken Business & Personal | Learn more about Quicken Simplifi
